J.C. Penney first announced its intent to close up to 140 stores – about 14 percent of the company’s locations – in February.
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After weeks of speculation, misleading news stories and being placed on a list of vulnerable stores, it was announced Friday that JC Penney in the Indiana Mall will stay open.
In all, the company said in the news release, 138 stores nationwide will be shuttered, as well as a supply chain facility in Lakeland, Fla.
The company is closing its department stores at Eastridge Mall in Gastonia, and at the Monroe Crossing shopping center in Monroe in June, according to a statement Friday.
J.C. Penney will provide outplacement support services to those eligible associates, according to the company. “It is essential to retain those locations that present the best expression of the JCPenney brand and function”, said Ellison.
J.C. Penney officials noted the closures are part of the pressures on brick-and-mortar stores, which increasingly are losing market share to off-price competitors and online retailers.
The Defiance JCPenney location is not on the list of upcoming store closures announced today by corporate headquarters.
Some business experts were expecting Penney’s to close the store at Collin Creek Mall in Plano.
Along with the closings, JCPenney says they will also be offering early retirement to almost 6,000 eligible associates.
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The move followed similar store-closure announcements by Macy’s and Sears. The Macy’s at The Esplanade in Kenner is one of them, scheduled to close this spring. Most of the affected stores will begin liquidation April 17th. “Closing a store is an easy decision, especially give the local impact on our valued employees and our most loyal shoppers”, Ellison said.
